GOLD - USD - 1H - Technical analysis published on 06/04/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
67%
11%
22%
My opinion
Bearish under 1,882.34 USD
My targets
1,865.39 USD (-0.26%)
1,827.86 USD (-2.26%)
My analysis
The basic trend is very bearish on GOLD - USD but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on GOLD - USD. As long as you stay below the resistance 1,882.34 USD, sellers' retain the upper hand. A break in the support at 1,865.39 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 1,827.86 USD as an objective. Crossing it would then enable sellers to target 1,794.12 USD. If the price were to depress the resistance 1,882.34 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
2.5
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This analysis was given by mmoussawi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GOLD - USD rating 1,870.17 USD. On the day, this instrument lost -0.05% with the lowest point at 1,855.99 USD and the highest point at 1,875.17 USD. The deviation from the price is +0.76% for the low point and -0.27% for the high point.1,855.99
1,875.17
1,870.17
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GOLD - USD in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the strongly bearish trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,827.86 | 1,865.39 | 1,869.52 | 1,870.17 | 1,882.34 | 1,892.35 | 1,909.60 |
| Change (%) | -2.26% | -0.26% | -0.03% | - | +0.65% | +1.19% | +2.11% |
| Change | -42.31 | -4.78 | -0.65 | - | +12.17 | +22.18 | +39.43 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,810.08 | 1,837.73 | 1,854.38 | 1,882.03 | 1,898.68 | 1,926.33 | 1,942.98 |
| Camarilla | 1,858.84 | 1,862.90 | 1,866.96 | 1,871.02 | 1,875.08 | 1,879.14 | 1,883.20 |
| Woodie | 1,804.57 | 1,834.98 | 1,848.87 | 1,879.28 | 1,893.17 | 1,923.58 | 1,937.47 |
| Fibonacci | 1,837.73 | 1,854.66 | 1,865.11 | 1,882.03 | 1,898.96 | 1,909.41 | 1,926.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,839.86 | 1,856.30 | 1,879.89 | 1,896.33 | 1,919.92 | 1,936.36 | 1,959.95 |
| Camarilla | 1,892.48 | 1,896.15 | 1,899.82 | 1,903.49 | 1,907.16 | 1,910.83 | 1,914.50 |
| Woodie | 1,843.45 | 1,858.09 | 1,883.48 | 1,898.12 | 1,923.51 | 1,938.15 | 1,963.54 |
| Fibonacci | 1,856.30 | 1,871.59 | 1,881.04 | 1,896.33 | 1,911.62 | 1,921.07 | 1,936.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,665.26 | 1,715.68 | 1,811.91 | 1,862.33 | 1,958.56 | 2,008.98 | 2,105.21 |
| Camarilla | 1,867.80 | 1,881.24 | 1,894.69 | 1,908.13 | 1,921.57 | 1,935.02 | 1,948.46 |
| Woodie | 1,688.16 | 1,727.13 | 1,834.81 | 1,873.78 | 1,981.46 | 2,020.43 | 2,128.11 |
| Fibonacci | 1,715.68 | 1,771.70 | 1,806.31 | 1,862.33 | 1,918.35 | 1,952.96 | 2,008.98 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.11 | |
| MACD (12,26,9): | -4.2600 | |
| Directional Movement: | -18.65 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 1,866.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,860.98 | |
| Elder Ray (13): | -0.33 | |
| Super Trend (3,10): | 1,878.39 | |
| Zig ZAG (10): | 1,871.66 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 78.81 | |
| TEMA (21): | 1,867.65 | |
| Williams %R (14): | -18.14 | |
| Chande Momentum Oscillator (20): | 0.60 | |
| Repulse (5,40,3): | 0.1400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 0.07 |
| MA7: | 1,894.08 | |
| MA20: | 1,872.49 | |
| MA50: | 1,805.41 | |
| MA100: | 1,795.40 | |
| MAexp7: | 1,870.34 | |
| MAexp20: | 1,872.81 | |
| MAexp50: | 1,882.31 | |
| MAexp100: | 1,889.40 | |
| Price / MA7: | -1.26% | |
| Price / MA20: | -0.12% | |
| Price / MA50: | +3.59% | |
| Price / MA100: | +4.16% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.64% | |
| Price / MAexp100: | -1.02% |
Quotes :
-
Real time data
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Gold & Silver Spot
News
Don't forget to follow the news on GOLD - USD. At the time of publication of this analysis, the latest news was as follows:
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Gold Technical Analysis for June 3, 2021 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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